TOXR – 21shares XRP ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to track the performance of XRP, as measured by the CME CF Ripple — Dollar Reference Rate — New York Variant (the “Pricing Benchmark”) adjusted for the Trust’s expenses and other liabilities. In seeking to achieve its investment objective, the Trust will hold XRP and will value its Shares daily as of 4:00 p.m. ET based on the Pricing Benchmark. Barring the liquidation of the Trust or extraordinary circumstances, the trust generally will not purchase or sell XRP, other than in connection with the creation or redemption of Shares.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
TOXR	21shares XRP ETF	ETF	Open	—	—	Dec 11, 2025	$160.74M	0.500%	—	—	—

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